Information about how to use the loan calculators are contained within the spreadsheet itself, mostly as cell comments. Basically, you just enter values in the white-background cells, and see what happens to the other numbers. In the Payment Calculator, you can also enter values in the yellow...
This is the ultimate "second-mortgage" calculator. Hopefully, you'll never need to use it. It can help answer the questions (a) How much can I borrow? (b) What will my monthly payment be? (c) How much equity will I have in N years?
Loan amortization is a method of debt repayment in equal installments over a specific period of time where the payment amount consists of paying principal and interest with different amount every month. The payment amount of interest is gradually decreased and the payment amount of principal is grad...
Payment Frequency (n) 2. Formula for Compound Loan Interest: The formula to calculate the compound loan interest is as follows: Where, A represents the final amount that you need to pay back. P is the Total Loan Amount. r is the Annual Interest Rate. n is the Payment Frequency (number...
All you have to do is input your interest rate, loan length, and loan amount. Once you have your formula, you can plug it into your Excel spreadsheet. Excel Formula for Monthly Payment on Credit Card Even though credit cards are usually the first credit option for many young adults (you...
In the far left column of your spreadsheet (below the “Period number” column described above), add one number on each row: The first row is “1,” then move down a row for “2,” and so on. Each row is one payment. For a 30-year loan, you’d have 360 monthly payments—for...
7. Payment Received – Principal We will skip Column D, because the inputs here will be automatically generated by the spreadsheet. Hence, our attention will be on Column E, which will be quick and easy. You can simply copy-paste the equal-monthly amortization from E10 through E33. However...
Speaking of which, you can use a car amortization schedule with extra payments or an auto loan amortization spreadsheet to plan your vehicle loan payments. At the beginning of your loan, the bulk of each monthly payment goes toward interest. Over time, that proportion changes, with more of yo...
Head over to the shop and download our student debt snowball spreadsheet for Excel or Google Sheets. Just fill in your loan details and how much you can pay. The calculator will show you exactly how long until you're debt-free! Experiment with different payment amounts and see visualizations...
Enter Your Email Below and Your Free, Private and Downloadable Loan Calculator Will Be on the Way If you find this spreadsheet useful, please share it so that other borrowers can benefit. I can't wait to help you save money on your student debt, whether you use our calculator or hire...